CEO Dev Ittycheria cited slower than expected cloud database consumption growth during the quarter, which led MongoDB to lower its fiscal 2025 guidance.
Slower than expected consumption growth in the April quarter pushed MongoDB executives to lower their fiscal 2025 forecast, which trailed expectations.stock sank as much as 25% in extended trading on Thursday after the database software maker issued light guidance for the quarter and reduced its forecast for the full fiscal year.
MongoDB trimmed its 2025 fiscal year forecast, which now stands at $2.15 to $2.30 in adjusted earnings per share and $1.88 billion to $1.90 billion in revenue. Three months ago, the forecast was adjusted earnings per share of $2.27 to $2.49 and revenue of $1.90 billion to $1.93 billion. Analysts had predicted $2.50 in adjusted earnings per share on $1.93 billion in revenue.
"We had a slower than expected start to the year for both Atlas consumption growth and new workload wins, which will have a downstream impact for the remainder of fiscal 2025," MongoDB's president and CEO, Dev Ittycheria, was quoted as saying in the statement. Atlas is MongoDB's cloud-based database service.
Before the after-hours move, MongoDB shares were down 24% this year, trailing the S&P 500 index, which has gained about 10% in the same period.
Earnings Mongodb Inc Business Technology Breaking News: Technology Enterprise Salesforce Inc Business News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MongoDB shares sink 23% after management trims guidanceCEO Dev Ittycheria cited slower than expected cloud database consumption growth during the quarter, which led MongoDB to lower its fiscal 2025 guidance.
Read more »
Ex-Husky McDaniels Comes up Big Again as Minnesota Ousts DenverThe former UW forward came up with 23 points to share his team lead.
Read more »
The Rings Of Power Finally Fixes The Lord Of The Rings' Biggest Mistake 23 Years LaterMarkella Kavenagh looking up as Nori Brandyfoot in The Rings of Power (2022) between Sean Astin and Elijah Wood as Sam and Frodo from The Fellowship of the Ring (2001)
Read more »
Incumbent Gonzales narrowly defeats 'AK Guy' in Texas District 23 Republican runoffIncumbent U.S. Rep. Tony Gonzales won victory by fewer than 500 votes over social media influencer Brandon 'AK Guy' Herrera in Tuesday's GOP runoff to represent Texas’ 23rd Congressional District. Gonzales, a two-term congressman whose district includes part of San Antonio, finished the night with 50.7% of the vote compared to Herrera’s 49.
Read more »
Severe weather outlook: 23 dead across US from weekend tornadoes; Texas getting battered againStrong storms with damaging winds and hail pummeled north Texas on Tuesday morning as much of the U.S. recovered from severe weather, including tornadoes, that killed at least 23 people during the Memorial Day holiday weekend.
Read more »
Severe weather outlook: 23 dead across US from weekend tornadoes; Texas getting battered againStrong storms with damaging winds and hail pummeled north Texas on Tuesday morning as much of the U.S. recovered from severe weather, including tornadoes, that killed at least 23 people during the Memorial Day holiday weekend.
Read more »